Once you have completed the budget, determine the following balances. On the template, make sure you link your answer to the appropriate cell. Failure to link to the appropriate cell will result in zero credit for that answer. Failure to complete this part of the assignment will result in a ZERO for the entire assignment, regardless if you completed the six budgets.

1. Total Cash Receipts for September and October
2. Total Inventory Purchases for September and October
3. Total Cash Payments for Inventory Purchases for September and October
4. Total Variable Selling & Administrative Costs for September and October
5. Total Fixed Selling & Administrative Costs for September and October
6. Total Cash Payments (S&A) for September and October
7. Total Cash Surplus (Deficit) for September and October
8. Total New Borrowing (Repayments) for September and October
9. The Contribution Margin for September and October
10. Total Interest Expense for September and October
11. Pre-tax Income for September and October
12. Income tax expense for September and October
13. Ending Balance of Accounts Receivable for September and October
14. Ending Balance of Inventory for September and October
15. Ending Balance of Prepaid Insurance for September and October
16. Ending Balance of Accumulated Depreciation for September and October
17. Ending Balance of Accounts Payable for September and October
18. Ending Balance of Commissions Payable for September and October
19. Ending Balance of Long-Term Debt for September and October
20. Ending Balance of Retained Earnings for September and October

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Policies and Plans used by The Bobcat Beverage Company, Inc., in budgeting 1. All Sales are on Credit. Sales are collected 29% in the month of sale and 71% in the month following sale. 2. Cost of goods sold is budgeted to be 35% of sales. 3. The Bobcat Beverage Company, Inc. plans to end each month with inventory levels equal to 12% of the next month's cost of sales. 4. The company pays for 74% of the purchases of merchandise in the month of the purchase and 26% in the following month. 5. The Bobcat Beverage Company, Inc. pays a sales commission of 7.5% on all sales. The selling commission is paid in the month after the salesmen earn the commission. 6. The company believes that advertising expense is a mixed cost. Based on an analysis of data from previous years, they determine that the best estimate of advertising expense is 15.5% of sales plus $80,000. Policies and Plans used by The Bobcat Beverage Company, Inc., in budgeting 1. All Sales are on Credit. Sales are collected 29% in the month of sale and 71% in the month following sale. 2. Cost of goods sold is budgeted to be 35% of sales. 3. The Bobcat Beverage Company, Inc. plans to end each month with inventory levels equal to 12% of the next month's cost of sales. 4. The company pays for 74% of the purchases of merchandise in the month of the purchase and 26% in the following month. 5. The Bobcat Beverage Company, Inc. pays a sales commission of 7.5% on all sales. The selling commission is paid in the month after the salesmen earn the commission. 6. The company believes that advertising expense is a mixed cost. Based on an analysis of data from previous years, they determine that the best estimate of advertising expense is 15.5% of sales plus $80,000.

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